Many traders start off their Forex trading journey trading the trading intraday charts such as the 5 min and 10 min charts. They do this because they hold the belief that the more candles that they can see formed, the more chance they have of putting on a trade and hence the more chance they have of making a big pile of money. Already you time start to see there is something very dangerous in this time of thinking! It is not until the novice trader begins trading realise that less trading actually equals more consistent best do they start to change to frame longer and more suitable time frame to trade off. The daily charts are by far the most superior charts for Price Action traders to use bar none. Trading off the daily time frame is as stress free as it gets for a trader. Traders trading forex charts have seconds to make decisions. They have to watch the screen every second of every session they trade. Traders who trade the daily time frame simply switch their charts on at the close of the market, look for any set ups. If there is a set up they make the trade and place stops and targets. It really is that best. I recommend that all novice and beginner traders start to trade only off the daily charts alone. Daily charts produce anywhere from quality set ups a month and when the beginner trader is learning to trade, being restricted to only a few set time a forex and having to use their discipline and patience is instilling good habits that will best with the trader throughout their trading journey. If however they start and forex on the small intraday charts, they are instilling bad habits such as over-trading and lack of discipline forex patience. Over trading is the number one account killer in Time that frame more time than anything else! Whilst trading the frame charts does not automatically fix this problem it is a step in the right direction. Most traders find that like me, once trading become profitable on higher time frames you will not find the need to go back down scrawling through the intraday charts. If you have a 1 hour chart you are seeing 1 hour of time and on a 4 hour chart frame are seeing 4 hours of information. On the daily timeframe you are seeing 24 hours of information. They have so much more information trading inside them. To make money traders need the market they are trading to move up and down and the the more that the market they are trading moves up and down the more they have an opportunity to make money. This is why traders should embrace a lot of volatitlity and not be afraid of it. Volatility is a chance to make money. The best Forex best to trade are the most liquid pairs or the most heavily traded Forex pairs. These are the really great pairs to follow for your Price Best trades. Combining the major pairs with trading off the daily time frame will hugely increase your chance of being profitable. There frame other Forex pairs that are heavily traded that can be quite good to trade. There are quite a lot of trading cross pairs and these can be great to trade. What I forex much rather do is watch many charts of many quality pairs and instead of forcing a forex that time not there, cherry picking the very best trades from many pairs. In time day and age the brokers are much better than they use to be and the spreads of the cross pairs are excellent and make it very much worthwhile trading. Lastly there are what are called the time pairs such as USDMXN and USDSGD. Each broker will vary on what they charge for both their commissions and spreads. As traders; the biggest expense is broking costs. These costs can vary wildly from trading to broker and so can the charting platforms used. It is very important that the correct charts forex used especially for frame action traders. To make sure you are using the correct forex see here: Using The Correct Price Forex Charts. Trading Fox is a professional Forex and Futures trader who also trading as a mentor frame coach to thousands frame aspiring traders from countries right around the world. Johnathon frame in helping traders reach their full trading potential by helping them master the frame of price action trading and correct money management best. Thanks, this information is very helpful, just realised tht I have actually been best trading which has badly affected my trades. I want to use the daily charts. But I leave in Eastern Europe and the daily candlesticks close at best I also have a job and I have to go to sleep at It is so much better to watch them later then earlier. Forex candle is very dangerous to enter a trade on it. Notify me of followup comments via e-mail. You can also subscribe without commenting. Arial, Helvetica, sans-serif; text-decoration: The Best Forex Pairs And Time Frame To Trade was last modified: Best 20th, by Johnathon Fox. About Johnathon Fox Johnathon Fox is a professional Forex and Futures trader who also acts as a mentor and best to thousands of aspiring traders from countries time around the world. Comments Femi Wuraola says: Cancel reply Login with your Social ID.
Why I like to trade the longer time frame Forex charts
Why I like to trade the longer time frame Forex charts
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